WASHINGTON - The University of North Carolina System expects to issue $127 million of bonds tomorrow to finance the construction of dormitories, athletic facilities, and other projects as it and other higher-education institutions face state-supported and endowment revenue declines amid the economic recession.

The university system will issue pool revenue bonds in three series for East Carolina University, Appalachian State University, and the University of North Carolina at Charlotte. Each university is rated separately by Moody's Investors Service and each will be responsible for its own debt service and principal payments.

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